International Oil & Gas Holdings Corporation (OTC:IGHL – News), a diversified holding company with joint ventures in the energy, technology, insurance, real estate and security sectors, today announced that the Company’s Joint Venture partner, Pacific Asian Atlantic Foundation had the geological appraisal on the 3,535 acre parcel revaluated on June 18, 2006.

The study identifies that substantial oil and gas reserves are present which are proven in part by scientific evaluations which include but are not limited to, core samples taken by BBM Corporation, 2-D seismic imaging completed by Western Geophysical Corporation, well logs taken and processed by Daimlers Corporation, and surface and subsurface geological studies done by Westin G&G Evaluations, Ltd.

The Pacific Asian Atlantic Foundation (http://www.paafoundation.org), an international humanitarian organization headquartered in Beverly Hills, California, is responsible for developing humanitarian projects throughout the world. The Foundation has a proven oil and gas reserve renewable leasehold assignment to March 16, 2015 on a 3,525-acre parcel located in Putnam County, Tennessee. A volumetric study and geological re-appraisal of the property was completed on June 18, 2006, placing a minimum assessed net value of $1,572,700.000.00 on the oil and gas reserves. The appraisal assumed $60.00 per barrel for oil and $6.00 per thousand cubic feet for gas. The report is calculated with a minimum accuracy of 90%.

A full copy of the certified petroleum engineers and appraisers report has been posted to IGHL’s website and can be downloaded for review at: http://www.ioghc.com/content/news/ighl_valuation_061002.pdf

“International Oil & Gas Holdings Corp.’s shareholders will benefit from increased asset value as this report fairly reflects the current market valuation of our asset. The re-appraisal of the property using more current market pricing showed a 300% increase in the property’s valuation and is more representative of how significant this asset truly is,” stated Mr. McAllister, CEO of IGHL.

About International Oil & Gas Holdings Corporation

International Oil & Gas Holdings Corporation (” IGHL “) is a holding company that partners with high-growth, profitable companies with great potential and powerful synergies while providing financial and/or management services to its Joint Venture partners and/or its subsidiaries. IGHL’s primary focus is in the oil and gas energy sector. The company also has investments in energy technologies and insurance that give it a unique position in the market. Additionally, the company has diversified its investments by working with real estate and security companies that have synergies with its energy and insurance projects. The company is a full service petroleum distributor operating in business, government, and industry markets. The company is headquartered in Las Vegas, Nevada and its affiliates have offices in Dallas, Texas, Colorado and Southfield, MI.

Forward Looking Statements:

Statements about the Company’s future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The Company’s actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; the Company will appropriately inform the public.

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